Exit A Limited Liability Company And Contribution To The Exiting: Limited liability company is the most preferred partnership in Turkey. Facility in the establishment of a company, having a legal entity and as a partnership, being responsible with only assets against the creditors are the main subjects of the company to make it favored. The [...]
Limited company has the feature of being the only company which has an upper limit on the number of the partners under the Turkish law. According to the article 574 of the Turkish Commercial Code, the number of the partners in a limited company shall not exceed fifty. This provision is one of the few [...]
Important innovations are provided within the Turkish Commercial Code (TCC, No. 6102) in regard to the limited liability companies law. Such changes are seen in the provisions relating to voting rights and general meeting quorum as well. According to Turkish Commercial Code, limited company general meeting resolutions are segregated into three as normal resolutions, important [...]
Basic Distinctions Between A Joint Stock Company and A Limited Liability Company The following are the major distinctions between joint stock companies and limited liability companies: The minimum number of shareholders required is one for a joint stock company and also for a limited liability company. A limited liability company may not have more than [...]
General Information On Limited Liability Companies A limited company is founded by at least one individual or entity. The upper limit has been determined as 50. There is no nationality requirement for the shareholders. Compared to a joint stock company, a limited liability company has a certain “personal” character. For instance, unlike the joint stock [...]